S’pore will have more millionaires per population v US, China by 2030: HSBC (Straits Times)
7.5 per cent of the adult population had wealth of at least US$1 million (S$1.38 million) in 2021, would see the share of millionaires rise to 9.8 per cent in 2025 and then jump to 13.4 per cent in 2030. The study looks at resident population that comprises citizens and permanent residents. To measure the wealth of the millionaires, HSBC said it used their cash in banks and investment in securities such as stocks and bonds. It also took into account real estate holdings, which include owner-occupied properties, after deducting any outstanding mortgage amounts.CNA Explains: What happens to scam proceeds and can victims get back their money? (CNA)
In June 2019, the Anti-Scam Centre (ASC) was set up to disrupt scammers’ operations and help mitigate victims’ losses....
